Shoppers Stop Q4 Net Profit Soars 62.55% to Rs 23.18 Crore

Shoppers Stop reported a 62.55% rise in Q4 net profit to Rs 23.18 crore. Consolidated revenue grew 13.2% to Rs 1,046.34 crore. For FY24, net profit declined 33% to Rs 77.25 crore, while revenue rose 7.3% to Rs 4,316.59 crore. Despite weak demand, the company aims to enhance margins in the long run.

Retail chain Shoppers Stop Ltd on Monday reported a 62.55 per cent rise in consolidated net profit at Rs 23.18 crore in the fourth quarter ended March 31, 2024.

The company had posted a consolidated net profit of Rs 14.26 crore in the same period a year-ago, Shoppers Stop said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 1,046.34 crore as against Rs 923.90 crore in the corresponding period of the previous fiscal.

Total expenses in the fourth quarter were higher at Rs 1,049.28 crore compared to Rs 928.78 crore in the same period a year ago.

For the fiscal ended March 31, 2024, the company said its net profit was at Rs 77.25 crore, down from Rs 116.01 crore in the previous year.

Consolidated revenue from operations in FY24 stood at Rs 4,316.59 crore, up from Rs 4,022.13 crore in FY23, the company said.

Shoppers Stop Managing Director & CEO Kavindra Mishra said the company ''delivered consistent performance despite continued softness in demand''.

The company's long-term goal is to increase the overall margins, he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)